As the old saying goes, beauty fades. Alice Walton, the heiress to the Walmart fortune, has proven that wealth doesn’t. Walton has officially eclipsed Françoise Bettencourt Meyers, the L’Oréal heiress, to claim the title of the world’s wealthiest woman. Walton’s fortune has skyrocketed to an astonishing US$96.6 billion ($143 billion) according to Bloomberg’s Billionaire Index, a staggering increase of US$26.6 billion ($39.3 billion) in just the past year. This extraordinary leap is largely driven by a 42 per cent surge in Walmart’s stock value, cementing Walton’s place at the top.
Bettencourt Meyers, the granddaughter of L’Oréal founder Eugène Schueller, previously held the title of the world’s richest woman. However, her wealth has diminished by US$9 billion ($13 billion), bringing her net worth down to US$91 billion ($135 billion). This decline is linked to a 12 per cent drop in L’Oréal’s shares since January, reflecting the broader challenges currently facing the cosmetics market.
At 70 years old, Bettencourt Meyers was the first woman to reach a net worth of US$100 billion ($148 billion) and join the exclusive centibillionaire club, largely due to her 35 per cent stake in L’Oréal, the world’s largest cosmetics company. However, she has now been pushed down to 19th place on the Bloomberg Billionaires Index, just behind Walton.
Walton’s wealth is closely tied to Walmart’s performance, where she co-manages Walton Enterprises alongside her brothers, each owning more than 11 per centof the retail giant. The surge in Walmart’s stock has significantly boosted her financial standing, making her the wealthiest woman globally and positioning her close to the US$100 billion mark.
Beyond her financial success, Walton is also known for her philanthropic efforts, particularly in the arts and medicine. She has made significant investments in her hometown of Bentonville, Arkansas, founding the Crystal Bridges Museum of American Art, which features works by renowned American artists such as Andy Warhol and Georgia O’Keeffe. In 2021, she established the Alice L. Walton School of Medicine, a nonprofit institution focused on advancing holistic healthcare, which is set to open in 2025.
Read the current issue of our digital magazine below:
- For more news and updates, subscribe to our weekly newsletter
- Follow us on Instagram
- Like us on Facebook
- Connect with us on LinkedIn
Alice Walton a billionaire must be nice on the backs of all those poor walmart associates that have to live in public housing and collect food stamps working full time and overtime for walmart so sad when is the government going to step in and do something about this